December 31, 2015
The IRS has announced the official start date of the 2016 tax filing season. This year there is no tiered opening and everyone can begin to file their returns on January 19, 2016. More importantly, the tax filing deadline falls on April 18th for 2016.
Taxpayers will be happy to know that this year they have 3 additional days to complete their tax returns because the District of Columbia celebrates Emancipation Day on April 16th but must observe the holiday on the nearest weekday, Friday April 15th. Therefore, Tax Day gets pushed out to the next business day, April 18th.
Please call the office at 541.388.7888 if you have any questions. Stay up to date on tax news and useful information by following us on Facebook and Twitter.
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The IRS requires you to keep your records that support an item of income or deduction on a return until the period of limitations for that returns runs out. The period of limitations is the period of time in which you can amend your return to claim a credit or refund, or the IRS can assess additional tax.
Period of Limitations: